Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.052%

Price spread now: Bitget against Ondo Perps+0.043%7-day average +0.029% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Ondo Perps Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.019%−$2 on $10k

Price spread, last 4 days (all we have)−0.172%−$17 · spread now +0.043%, 7d avg +0.029%

Together, before fees−0.191%+ Points / potential airdropOndo Perps: Active · farm board−$19 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.029%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps NBIS-USD.P	230.68	0.0050	pay 0.0006% / 1h	19m 07s	$151K	$538K	10x
Short	Bitget NBISUSDT	230.78	0	get 0.0000% / 8h	6h 19m	$2.3M	$4.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Ondo Perps. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Ondo PerpsbpFee BitgetbpOrdersPrice spread, now +0.043%Rate

Funding earned: −$10.58
Price spread: +0.043% → +0.029%: $1.46
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$26.12
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; Bitget: live order book, 2 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Ondo Perps no order-book sample	—	—	—	—	—
Sell Bitget live order book, 2 min ago	1.73 bp	13.8 bp −$14	22.4 bp −$224	34.9 bp −$3,487	doesn't fit

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

NBIS on 31 exchanges

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit NBIS_USDC-PERPETUAL	−0.0054%	1h	230.55	−0.056%	$34K	$50K	10x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	230.82	+0.061%	$3.3M	$16.5M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	230.80	+0.052%	$2.7M	$5.1M	50x	as long as short
Bitget NBISUSDTshort	0.0000%	8h	230.78	+0.043%	$2.3M	$4.7M	20x
SunX NBIS-USDT	0.0000%	8h	230.86	+0.078%	$1K	$1.5M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	230.79	+0.048%	$13K	$62K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	230.78	+0.043%	$1.6M	$970K	10x	as long as short
Variational Omni NBIS	+0.0010%	8h	230.73	+0.023%	$2.8M	$642K	—	as long as short
Aster NBISUSDT	+0.0030%	8h	230.88	+0.085%	$74K	$315K	50x	as long as short
Bybit NBISUSDT	+0.0032%	8h	230.78	+0.043%	$4.9M	$6.8M	50x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest NBIS-USD-PERP	+0.0046%	1h	230.86	+0.078%	—	$250K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	230.76	+0.035%	$138K	$472K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	230.80	+0.052%	$65	$19K	10x	as long as short
Ondo Perps NBIS-USD.Plong	+0.0050%	1h	230.68	long leg	$151K	$538K	10x
QFEX NBIS-USD	+0.0054%	1h	230.70	+0.009%	$1.5M	$3.7M	10x	as long as short
Binance NBISUSDT	+0.0062%	8h	230.79	+0.047%	$19.6M	$91.5M	25x	as long as short
Extended NBIS-USD	+0.0064%	1h	230.74	+0.024%	$145K	$854K	10x	as long as short
BloFin NBIS-USDT	+0.0079%	8h	230.88	+0.087%	$205K	$219K	20x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0088%	1h	230.69	+0.004%	$380K	$873K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	230.70	+0.009%	$468K	$144K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	230.81	+0.056%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	230.78	+0.043%	—	—	10x	as long as short
edgeX NBISUSDC	+0.0109%	4h	230.76	+0.034%	$37K	$227K	10x	as long as short
Nado NBIS-PERP	+0.0134%	1h	230.73	+0.022%	$38K	$116K	3x	as long as short
Arcus NBIS-USD	+0.0257%	1h	230.71	+0.013%	$42K	$122K	5x	as long as short
tradeXYZ xyz:NBIS	+0.0298%	1h	230.72	+0.017%	$54.2M	$20.4M	10x	as long as short
Phoenix NBIS	+0.0347%	1h	230.98	+0.130%	$7K	$127K	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0353%	8h	230.77	+0.039%	$5K	$104K	10x	as long as short
Lighter NBIS	+0.0400%	1h	230.86	+0.078%	$934K	$4.1M	10x	as long as short
Entropy io:NBIS	+0.0656%	1h	230.76	+0.035%	$10.1M	$3.1M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0771%	1h	230.53	−0.064%	$22K	$11K	20x	as long as short